Media365
UK lender Barclays plans to continue growing its investment bank in Hong Kong, using the city as a platform to capture the growing fundraising needs in Asia and the rising opportunities from the internationalisation of the yuan, according to its global CEO.
“Asia and Hong Kong are very important areas for us,” said C.S. Venkatakrishnan, global CEO of Barclays, in an interview with the South China Morning Post during a recent visit to the city. “In Hong Kong, our investment banking team is serving Hong Kong and Chinese clients to access global capital markets.”
He noted that many technology companies and others from mainland China and Southeast Asia want to list in Hong Kong due to the city’s active capital market, while some US or UK-listed companies might also consider a secondary listing here.
“The depth of investors in Hong Kong and the access that they provide to investors, especially in mainland China, is really important,” Venkatakrishnan said. “That is an important part of the Hong Kong IPO [initial public offering] story.”
Barclays’ expansion plan includes increased investment in talent and technology across its investment banking and trading units in Hong Kong, he said, but he did not elaborate.
